0035 GMT - Australian payment-services provider Cuscal gets a new bull against the backdrop of growing volumes of digital transactions. Bell Potter analyst Hayden Nicholson initiates coverage of the stock with a buy rating, telling clients in a note that it is a leading connector to the Australian payments landscape. Pointing to what he says is a track record of innovation, investment and timing, Nicholson highlights Cuscal's mobile-payments connectivity capability and its focus on developing longer-term solutions. He likes its limited customer churn, the reassurance offered by the length of existing customers' contracts, and the potential for new business wins outside of traditional banking. Bell Potter puts a A$3.40 target price on the stock, which is down 0.4% at A$2.70. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 23, 2025 20:35 ET (00:35 GMT)
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